9911796707
TMI Blog2023 (11) TMI 331X X X X Extracts X X X X X X X X Extracts X X X X ..... ce the assessee being uneducated and is not aware of the provisions of income tax which resulted into not paying the taxes - HELD THAT:- It is pertinent to note that the assessee has not filed return of income and it appears that the assessee being not aware about the tax on sale consideration of the land is genuine. At no point of time assessee concealed the particulars of income or furnished inaccurate particulars of income as the assessee after the order of the CIT(A) has paid the taxes on capital gain. This fact is not disputed by the Ld. DR. The decision of Sun on Peak Hotel (P.) Ltd. 2018 (6) TMI 1055 - GUJARAT HIGH COURT] is applicable in the present case as the assessee herein has a genuine case of not aware of tax payment. Thu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s sales consideration through cheques. However, the assessee did not file the return of income and not paid the capital gain tax on the sale of immovable property. The Assessing Officer estimated the long term capital gain at Rs. 26,60,000/- as well as the bank interest of Rs. 4,227/- which was not offered to tax. Penalty proceedings u/s 271(1)(c) were initiated for both the additions. In the meanwhile, the assessee preferred appeal before the CIT(A) in quantum proceedings, but the same was dismissed by the CIT(A) vide order dated 16.07.2015. During the course of penalty proceedings, the assessee filed its submissions which was considered and thereafter the Assessing Officer imposed the penalty of Rs. 2,81,034/- u/s 271(1)(c) of the Income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of delay application. It appears that the delay is genuine and hence, the same is condoned. It is pertinent to note that the assessee has not filed return of income and it appears that the assessee being not aware about the tax on sale consideration of the land is genuine. At no point of time assessee concealed the particulars of income or furnished inaccurate particulars of income as the assessee after the order of the CIT(A) has paid the taxes on capital gain. This fact is not disputed by the Ld. DR. The decision of Hon ble Gujarat High Court in case of Sun on Peak Hotel (P.) Ltd. (supra) is applicable in the present case as the assessee herein has a genuine case of not aware of tax payment. Thus, the penalty imposed u/s 271(1)(c) of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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